Standard Lithium Ltd 6-K, filed Feb 9, 2023

About this 6-K

Standard Lithium Ltd. (SLI)

6-K 2023-02-09 For: 2022-12-31

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Added on April 12, 2026

Standard Lithium Ltd.

(Registrant)

February 9, 2023

/s/ Robert Mintak

Robert Mintak

CEO and Director

Standard Lithium Ltd filed this 6-K on February 9, 2023.

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Exhibit

99.1		Interim Consolidated Financial Statements for the six months ended December 31, 2022
99.2		Management’s Discussion and Analysis of Results of Operations and Financial Condition for the six months ended December 31, 2022
99.3		Form 52-109F2, Certification of Interim Filings (CEO)
99.4		Form 52-109F2, Certification of Interim Filings (CFO)


	December 31,		June 30,
	2022		2022
ASSETS
Current assets
Cash	$	107,369,473	$	129,065,348
Receivables		1,049,952		1,135,095
Prepaid expenses		1,010,929		1,603,997
		109,430,354		131,804,440
Non-current assets
Reclamation deposit		84,865		80,742
Exploration and evaluation assets (Note 4)		51,592,439		41,127,501
Intangible assets (Note 5)		1,455,838		1,500,540
Pilot plant (Note 6)		812,640		985,057
Asset under construction – Commercial plant (Note 7)		9,346,041		4,533,458
Right of use asset		292,043		379,650
Deposits		31,878		12,416
Investment in Aqualung Carbon Capture SA (Note 3)		3,385,990		3,221,491
		67,001,734		51,840,855
TOTAL ASSETS	$	176,432,088	$	183,645,295
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	$	4,231,966	$	6,597,682
Lease liability – short-term		166,929		182,060
		4,398,895		6,779,742
Non-current liabilities
Lease liability – long-term		137,438		208,435
Decommissioning provision		135,440		128,860
		272,878		337,295
TOTAL LIABILITIES		4,671,773		7,117,037
EQUITY
Share capital (Note 8)		262,259,192		262,046,589
Reserves (Note 8)		22,936,849		21,945,204
Deficit		(115,156,608)		(106,717,819)
Accumulated other comprehensive income (loss)		1,720,882		(745,716)
TOTAL EQUITY		171,760,315		176,528,258
TOTAL LIABILITIES AND EQUITY	$	176,432,088	$	183,645,295


“Robert Mintak”		“Dr. J. Andrew Robinson”
Director		Director


	Three months ended				Six months ended
	December 31,				December 31,
	2022		2021		2022		2021
Expenses
Advertising and investor relations	$	85,983	$	48,870	$	153,677	$	115,064
Amortisation of intangible assets (Note 5)		20,797		48,152		68,949		96,304
Amortisation of office lease		46,189		20,736		91,660		20,736
Amortisation of pilot plant (Note 6)		4,000		3,729,731		205,636		7,342,858
Carbon Capture research & development		-		10,139		-		10,139
Consulting fees		1,068,184		392,771		1,569,315		762,003
Filing and transfer agent		49,428		156,760		198,093		186,620
Foreign exchange (gain)/loss		1,265,601		271,608		(5,229,000)		263,201
Management fees (Note 9)		510,418		370,712		1,024,304		740,234
Office and administration		700,381		630,249		1,638,619		1,228,397
Patent		223,952		119,270		468,325		236,160
Pilot plant operations (Note 6)		3,099,490		1,944,764		5,975,043		4,281,206
Preliminary economic assessment		-		33,657		-		87,130
Professional fees		146,268		369,004		1,386,230		682,871
Project investigation		192,465		260,614		1,138,454		575,859
Share-based payments		301,271		71,711		1,091,749		1,186,845
Travel		112,964		103,518		159,573		125,627
Loss from operations before other items		(7,827,391)		(8,582,266)		(9,940,627)		(17,941,254)
Interest income		952,785		18,576		1,512,335		18,576
Interest and accretion expense		(5,729)		(4,215)		(10,497)		(4,215)
Net loss for the period		(6,880,335)		(8,567,905)		(8,438,789)		(17,926,893)
Other comprehensive income (loss)
Item that may be reclassified subsequently to income or loss:
Currency translation differences of foreign operations		(1,149,922)		(257,652)		2,466,598		933,253
Total comprehensive income (loss)		(8,030,257)		(8,825,557)		(5,972,191)		(16,993,640)
Weighted average number of common shares outstanding – basic and diluted		166,552,197		151,389,324		166,457,676		147,394,452
Basic and diluted loss per share	$	(0.04)	$	(0.06)	$	(0.05)	$	(0.12)


								Accumulated
								other
	Number	Share						comprehensive
	of shares	capital		Reserves		Deficit		income (loss)		Total equity
Balance, June 30, 2021	141,166,203	$	122,996,406	$	19,563,420	$	(68,617,507)	$	(2,398,853)	$	71,543,466
Share-based payment	-		-		1,186,845		-		-		1,186,845
Share issued for private placement, net of costs	13,480,083		118,240,689		2,211,663		-		-		120,452,352
Share issuance costs	-		(241,396)		-		-		-		(241,396)
Warrants exercised	5,635,147		6,306,982		-		-		-		6,306,982
Stock options exercised	750,784		1,698,280		(952,780)		-		-		745,500
Net loss for the period	-		-		-		(17,926,893)		-		(17,926,893)
Currency translation differences for foreign operations	-		-		-		-		933,253		933,253
Balance, December 31, 2021	161,032,217	$	249,000,961	$	22,009,148	$	(86,544,400)	$	(1,465,600)	$	183,000,109

Balance, June 30, 2022	166,402,197	$	262,046,589	$	21,945,204	$	(106,717,819)	$	(745,716)	$	176,528,258
Share-based payment	-		-		1,091,749		-		-		1,091,749
Stock options exercised	150,000		212,603		(100,104)		-		-		112,499
Net loss for the period	-		-		-		(8,438,789)		-		(8,438,789)
Currency translation differences for foreign operations	-		-		-		-		2,466,598		2,466,598
Balance, December 31, 2022	166,552,197	$	262,259,192	$	22,936,849	$	(115,156,608)	$	1,720,882	$	171,760,315


Initial investment	$	3,113,991
Effect of movement in foreign exchange rates		107,500
Balance, June 30, 2022		3,221,491
Effect of movement in foreign exchange rates		164,499
Balance, December 31, 2022	$	3,385,990


	California		Arkansas	Other Smackover
	Property		Property	Exploration	Total
	$		$	$	$
Acquisition costs:
Balance, June 30, 2021		12,768,549	12,107,486	-	24,876,035
Acquisition of property		5,183,941	1,642,281	-	6,826,222
Effect of movement in foreign exchange rates		506,868	480,627	-	987,495
Balance, June 30, 2022		18,459,358	14,230,394	-	32,689,752
Acquisition of property		126,087	1,354,400	299,238	1,779,725
Effect of movement in foreign exchange rates		942,593	726,649	-	1,669,242
Balance, December 31, 2022		19,528,038	16,311,443	299,238	36,138,719

Exploration Costs:
Balance, June 30, 2021		4,153,051	2,561,108	-	6,714,159
Exploration costs		14,820	1,442,241	-	1,457,061
Effect of movement in foreign exchange rates		164,861	101,668	-	266,529
Balance, June 30, 2022		4,332,732	4,105,017	-	8,437,749
Exploration costs		4,790	3,532,793	3,047,529	6,585,112
Effect of movement in foreign exchange rates		221,244	209,615	-	430,859
Balance, December 31, 2022		4,558,766	7,847,425	3,047,529	15,453,720

Balance, June 30, 2022		22,792,090	18,335,411	-	41,127,501
Balance, December 31, 2022		24,086,804	24,158,868	3,346,767	51,592,439


		IP Assets		Patents		Total
Balance, June 30, 2021	$	1,691,575	$	-	$	1,691,575
Amortisation		(191,035)		-		(191,035)
Balance, June 30, 2022		1,500,540		-		1,500,540
Amortisation		(68,949)		-		(68,949)
Additions		-		24,247		24,247
Balance, December 31, 2022	$	1,431,591	$	24,247		1,455,838


		$
Balance at June 30, 2021		12,338,741
Additions		1,929,020
Amortisation		(13,355,544)
Effect of movement in foreign exchange rates		72,840
Balance at June 30, 2022		985,057
Amortisation		(205,636)
Effect of movement in foreign exchange rates		33,219
Balance at December 31, 2022		812,640


		Weighted
	Number of	average
	warrants	exercise price
Balance at June 30, 2021	9,813,870	1.13
Issued	336,877	11.09
Exercised	(6,684,892)	1.12
Expired	(3,353)	1.30
Balance at June 30, 2022 and December 31, 2022	3,462,502	2.16


	Number of	Weighted average
	options	exercise price
Balance at June 30, 2021	13,750,784	$	1.29
Options exercised	(4,410,784)		1.00
Options granted	1,170,000		7.35
Options expired	(340,000)		0.96
Balance at June 30, 2022	10,170,000	$	2.11
Options exercised	(150,000)		0.75
Balance at December 31, 2022	10,020,000	$	2.13


	Options Outstanding				Options Exercisable
			Weighted	Weighted		Weighted
			Average	Average		Average
Exercise		Number	Remaining	Exercise		Exercise
Price		of	Contractual Life	Price	Number	Price
$		Shares	(years)	$	Exercisable	$
0.75		450,000	0.34	0.75	450,000	0.75
0.76		4,450,000	0.19	0.76	4,450,000	0.76
1.40		1,900,000	0.68	1.40	1,900,000	1.40
2.10		450,000	0.14	2.10	450,000	2.10
3.39		1,200,000	3.05	3.39	1,200,000	3.39
3.43		400,000	1.28	3.43	400,000	3.43
6.08		200,000	3.55	6.08	200,000	6.08
6.31		200,000	4.18	6.31	150,000	6.31
7.55		500,000	2.12	7.55	500,000	7.55
8.25		170,000	4.21	8.25	170,000	8.25
9.40		100,000	4.28	9.40	75,000	9.40
		10,020,000	1.02	2.13	9,945,000	2.09


December 31, 2022	Level 1		Level 2		Level 3		Total
Investment in Aqualung Carbon Capture SA	$	-	$	3,385,990	$	-	$	3,385,990


June 30, 2022	Level 1		Level 2		Level 3		Total
Investment in Aqualung Carbon Capture SA	$	-	$	3,221,491	$	-	$	3,221,491


Overview	Units	Values	Comments
Production	tpy	20,900	At completion of Phase 3 production
Plant Operation	years	25	From the start of Phase 1 production
Capital Cost (CAPEX)	US$	437,162,000
Annual Operating Cost (OPEX)	US$	90,259,000
Average Selling Price	US$/t	13,550
Annual Revenue	US$	283,195,000
Discount Rate	%	8
Net Present Value (NPV) Post-Tax	US$	989,432,000
Net Present Value (NPV) Pre-Tax	US$	1,304,766,000
Internal Rate of Return (IRR) Post-Tax	%	36.0
Internal Rate of Return (IRR) Pre-Tax %	%	41.8

Description	Units	Values
Average Annual Production (as LiOH·H₂O)	tpa^[1]	30,000^[2]
Plant Operation	years	20
Total Capital Cost (CAPEX)	US$	869,868,000^[3]
Operating Cost (OPEX) per year	US$/yr	77,972,000^[4]
OPEX per tonne	US$/t	2,599
Initial Selling Price	US$/t	14,500^[5]
Average Annual Revenue	US$	570,076,000^[6]
Discount Rate	%	8.0
Net Present Value (NPV) Pre-Tax	US$	2,830,190,000
Net Present Value (NPV) Post-Tax	US$	1,965,427,000
Internal Rate of Return (IRR) Pre-Tax	%	40.5
Internal Rate of Return (IRR) Post-Tax	%	32.1


Quarter Ended	Total Revenues	Net Income/(Loss)	Earnings/(Loss) Per Share
March 31, 2021	$Nil	$ (9,802,434)	$ (0.07)
June 30, 2021	$Nil	$ (7,080,345)	$ (0.05)
September 30, 2021	$Nil	$ (9,358,988)	$ (0.07)
December 31, 2021	$Nil	$ (8,567,905)	$ (0.06)
March 31, 2022	$Nil	$ (13,740,984)	$ (0.08)
June 30, 2022	$Nil	$ (6,432,435)	$ (0.04)
September 30, 2022	$Nil	$ (1,558,454)	$ (0.01)
December 31, 2022	$Nil	$ (6,880,335)	$ (0.04)

	December 31, 2022		December 31, 2021
Non-Executive Chair of the Board, Robert Cross (Paloduro Investments Inc.)	$	67,287	$	43,750
President and Chief Operating Officer, Dr. Andy Robinson (Green Core Consulting Ltd.)		266,413		200,004
Chief Executive Officer, Robert Mintak (Rodhan Consulting & Management Services)		266,413		200,000
Director, Anthony Alvaro (Varo Corp Capital Partners Inc.)		125,000		125,000
Director, Jeffrey Barber (JSB Investments Inc.)		66,980		37,500
Director, Volker Berl (New Age Ventures LLC)		65,703		37,500
Chief Financial Officer, Kara Norman		166,508		96,480
Share-based payments		-		940,268
	$	1,024,304	$	1,680,502

Options Outstanding			Options Exercisable
		Weighted	Weighted		Weighted
		Average	Average		Average
Exercise	Number	Remaining	Exercise		Exercise
Price	of	Contractual Life	Price	Number	Price
$	Shares	(years)	$	Exercisable	$

0.75	450,000	0.24	0.75	450,000	0.75
0.76	3,950,000	0.08	0.76	3,950,000	0.76
1.40	1,450,000	0.58	1.40	1,450,000	1.40
2.10	450,000	0.04	2.10	450,000	2.10
3.39	1,200,000	2.95	3.39	1,200,000	3.39
3.43	400,000	1.18	3.43	400,000	3.43
6.08	200,000	3.45	6.08	200,000	6.08
6.31	200,000	4.08	6.31	150,000	6.31
7.55	500,000	2.02	7.55	500,000	7.55
8.25	170,000	4.11	8.25	170,000	8.25
9.40	100,000	4.18	9.40	100,000	9.40
	9,070,000	0.99	2.24	9,020,000	2.22

December 31, 2022		Level 1		Level 2		Level 3		Total

Investment in Aqualung Carbon Capture SA	$	-	$	3,385,990	$	-	$	3,385,990

June 30, 2022		Level 1		Level 2		Level 3		Total

Investment in Aqualung Carbon Capture SA	$	-	$	3,221,491	$	-	$	3,221,491


Date: February 9, 2023

“Robert Mintak”
Robert Mintak
Chief Executive Officer